World Gold reserves

[Juice]

Gold is fiat money, same as paper. It is only worth what people decide it is. Try to eat gold sometime. Read an "informative" Cracked article about gold, lol. Notice how the companies selling this valuable commodity are willing to take your worthless money for it. The article rightly states if you are preparing for the end, cigarettes, ammo and toliet paper would be better trade commodities.

 

[harpoon]

German gold came after the war, was decided to keep it there in light of the cold war (wouldn't lose it to a Soviet advance). Others came at that time too. It is not overly publicized for obvious reasons.

Yeah I remember one James Bond movie in which Fort Knox was raided and there are piles of Gold with name of the country to which the gold belongs displayed on top of it.

 

[Luftwaffe]

I think the figures are not correct.
What about civilian holding the Gold (Ornaments, bars etc.)
Temple reserves in Inda (Tirupati, other south and North India Temples)

Yes, I think india should be around 7/8 I still think its unreliable data besides imf is a manipulator.

 

[harpoon]

Gold is fiat money, same as paper. It is only worth what people decide it is. Try to eat gold sometime. Read an "informative" Cracked article about gold, lol. Notice how the companies selling this valuable commodity are willing to take your worthless money for it. The article rightly states if you are preparing for the end, cigarettes, ammo and toliet paper would be better trade commodities.

In WW2 Nazis were facing serious material shortage, but inspite of this they were looting gold from all over Europe and transporting them to safer places (even Switzerland).Gold cannot be used to manufacture arms and ammunition, then why Nazis did the above? because as along as men are alive they will also have their lust of gold.

 

[newdelhinsa]

Found this link

13,000 tons of Gold rest in India | www.commodityonline.com | 3

 

[Juice]

In WW2 Nazis were facing serious material shortage, but inspite of this they were looting gold from all over Europe and transporting them to safer places (even Switzerland).Gold cannot be used to manufacture arms and ammunition, then why Nazis did the above? because as along as men are alive they will also have their lust of gold.

People take paper money in hiest too...what is your point?

 

[harpoon]

The reserves will not include the gold openly available in the country in the form of jewellery or any other form of private ownership. China from what I know exports a lot of the gold and makes a clean buck out of it. The only reason it resorts to buying IMF gold is perhaps to indicate it's economic muscle in the world today.

One reason for the rise of gold prices in the world market is said to be the competition b/n India & China to buy Gold from world market.

 

[Vibs]

Gold is fiat money, same as paper. It is only worth what people decide it is. Try to eat gold sometime. Read an "informative" Cracked article about gold, lol. Notice how the companies selling this valuable commodity are willing to take your worthless money for it. The article rightly states if you are preparing for the end, cigarettes, ammo and toliet paper would be better trade commodities.

Interesting you say this. I had read an article sometime back which you might like reading. Google China strategic pork reserves (I'm not kidding!)

---------- Post added at 03:38 PM ---------- Previous post was at 03:35 PM ----------

One reason for the rise of gold prices in the world market is said to be the competition b/n India & China to buy Gold from world market.

To be honest, it looks to be investors who are banking on it to be a safe investment. Gold and Silver are 2 commodities everyone seems to be investing in. In fact silver prices shot up 200% in 1 year. But traditionally gold bullions were reserves and since developed countries and IMF has reserves in this particular metal, we continue to dabble in it. It'll be worthless if the OPEC decides to play around with oil supplies though. Those are the reserves that count today.

 

[harpoon]

I am surprised to see UK at 17th rank. Where is all the gold they amassed from all over the world during the time when they had "an empire on which the sun never sets"

I think they used much of it during WW2.

 

[Juice]

Gold is very high now. I remember when it reached records in the 80's and everyone jumped aboard. The bottom fell out for two decades.

 

[aakash_2410]

Gold is very high now. I remember when it reached records in the 80's and everyone jumped aboard. The bottom fell out for two decades.

Heyy juice, you're back? Welcome back mate.

What happened? Why were you banned?

 

[jdme]

Gold reserve is fine. Just don't overdo it. Diversify. US does have biggest gold reserve in world but China/India hold most amount of Gold as a nation. 52% of gold ever produced is right now jewelry.

 

[jdme]

Gold is fiat money, same as paper. It is only worth what people decide it is. Try to eat gold sometime. Read an "informative" Cracked article about gold, lol. Notice how the companies selling this valuable commodity are willing to take your worthless money for it. The article rightly states if you are preparing for the end, cigarettes, ammo and toliet paper would be better trade commodities.

Gold prices may go up or down but gold will always be accepted as currency during time of trouble. When you have choice between gold and dollar, it's not hard to understand why people will buy gold.

 

[Chogy]

Even in times of extreme danger and violence, gold has retained value. For gold to become worthless, the situation must truly become apocalyptic... the sort of "zombie" scenario, EOTW (End Of The World) like you'd see in a movie, where food and ammunition is all that matters, and you wouldn't trade 100 rifle cartridges for a kilogram of gold, because that kilo won't help you survive another week.

But that's a pretty extreme situation that may never come.

Here's the deal with gold... economies have become HUGELY larger than a nation's gold reserves. The U.S. 8,000 ton pile of gold is worth about 325 billion $. Just a fraction of a trillion $.

The entire gold supply of the U.S. would pay for our annual budget of 3.7 trillion $ for only 32 days!

Gold is nice to stockpile, but it doesn't mean as much as it used to.

 

[CardSharp]

Fiat money is basically credit issued by the government and back by the credit worthiness of the government. In an industrialized world the amount of gold you have is not the only determining factor of the credit worthiness.